On Tuesday, the company announced that it has rebranded the app to Google Pay. It has also secured partnerships with four Indian banks –Federal Bank (FED.NS), HDFC Bank (HDBK.NS), ICICI Bank (ICBK.NS) and Kotak Mahindra Bank (KTKM.NS)– to provide instant loan service.

According to the Reutersreport, the move was meant to attract tens of millions of “new internet users” in the country.

The company is also open to collaborate with Indian payments firms.

Didi apologises for passengers’ death – Bloomberg

Chinese ride-hailing giant Didi Chuxing has a issued a public apology and announced that it will prioritise safety over growth, following the death of a passenger who was allegedly murdered by a driver when using its services, Bloombergreported.

The case was the second to happen in the past three months, leading to criticism against the company and massive app deletion by the public.

On Sunday, Didi has announced the suspension of the Hitch service and removed two executives. A driver in Wenzhou has also been detained for involvement in the murder.

The company plans to use the new funding to support product innovation, R&D efforts, and talent acquisitions.

Modalku names former finance minister as advisor – Press Release

Indonesian peer-to-peer (P2P) lending startup Modalku has named former Minister of Finance Dr. Muhamad Chatib Basri as its new advisor.

Having held the minister position in 2013-2014, Basri is a member of the World Bank Advisory Council on Gender and Development. He was also a member of the Asia Pacific Regional Advisory Group of the International Monetary Fund (IMF) and an Ash Centre Senior Fellow at Harvard University.

In a press statement, Basri said that partnerships between P2P lending startups and other financial institutions can help build a “better” digital finance ecosystem.